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10/02/2013

More Obama hyperbole on the impact that the shutdown will have on the economy

JOHN HARWOOD: You mentioned calm. Wall Street's been pretty calm about this. The reaction I would say, generally speaking, has been, "Washington fighting, Washington posturing, yaddah, yaddah, yaddah." Is that the right way for them to look at it?

PRESIDENT BARACK OBAMA: No, I think this time's different. I think they should be concerned. And-- I had a chance to speak to-- some of the financial industry who came down for their typical trip. And I told them that-- it is-- not unusual for Democrats and Republicans to disagree. That's the way the founders designed our government. Democracy's messy.

But when you have a situation in which-- a faction is willing potentially to default on-- U.S. government obligations-- then we are in trouble. And if they're willing to do it-- now, they'll be willing to do it later. One thing that I often hear-- is, "Well, Mr. President-- even if they're being unreasonable, why can't you just go ahead and-- do something that makes them happy now?" And I have to remind people--